767 Freeman Avenue

Long Beach , CA 90804

MLS#: PW25182759

$1,895,000

Status: Active
Listing number: PW25182759
Listing provided by: John Dumke, Broker
Listing agent phone: None
Last update: 3 days ago
New on site 4 days ago
Browse Properties
Eastside (ES) - Residential Income

Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1961

Sq.Footage

N/A

Excellent cash flow building in prime Eastside Long Beach area. 7 units total, four garages with 4 parking spaces in front of garage. All unit doors face south for lots of natural light and share common back yard space for happy tenants. Common area laundry room for convenience. All units have been well maintained and upgraded, granite counters, low maintenance tile flooring and updated bathrooms. Very little deferred maintenance. Great location. Rose Park is right around the corner, walking distance to shops and restaurants on 4th Street, 7th Street and Redondo. Current monthly income 13,610 (163,320 annual). GRM is 11.6x. Cap rate with 35% expenses is 5.6%. Market rents are 2,250 with garage and 2050 without. Building has been professionally managed with great tenants. The building is the perfect combination of a quality and cash flow. Units show very well as they are upgraded upon vacancy. This is an easy building to own and manage with additional upside.

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Cooling YN

    NO

  • Cooling

    None

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Wall Furnace

Exterior

  • Garage

    Yes

  • Garage spaces

    4

  • Pool

    Yes

  • Pool Features

    None

Area & Lot

  • Lot Features

    Back Yard

  • Lot Size(acres)

    0.155

  • Property Type

    Residential Income

  • Property Sub Type

    Apartment

Price

  • Sales Price

    $1,895,000

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Senior Community YN

    NO

  • Sewer

    Public Sewer

  • Tax Lot

    18

  • Water Source

    Public

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Location

County

Los Angeles

Elementary School

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Listing Courtesy of John Dumke , John Dumke, Broker

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Excellent cash flow building in prime Eastside Long Beach area. 7 units total, four garages with 4 parking spaces in front of garage. All unit doors face south for lots of natural light and share common back yard space for happy tenants. Common area laundry room for convenience. All units have been well maintained and upgraded, granite counters, low maintenance tile flooring and updated bathrooms. Very little deferred maintenance. Great location. Rose Park is right around the corner, walking distance to shops and restaurants on 4th Street, 7th Street and Redondo. Current monthly income 13,610 (163,320 annual). GRM is 11.6x. Cap rate with 35% expenses is 5.6%. Market rents are 2,250 with garage and 2050 without. Building has been professionally managed with great tenants. The building is the perfect combination of a quality and cash flow. Units show very well as they are upgraded upon vacancy. This is an easy building to own and manage with additional upside.

767 Freeman Avenue

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